Innoviz Announces Pricing of Upsized Public Offering of Ordinary Shares

TEL AVIV, Israel, Aug. 9, 2023 /PRNewswire/ -- Innoviz Technologies Ltd. (NASDAQ:INVZ) ("Innoviz"), a leading Tier-1 direct supplier of high-performance, automotive grade LiDAR sensors and perception software,  today announced the pricing of its upsized underwritten public offering of 26.0 million ordinary shares at a public offering price of $2.50 per ordinary share. Innoviz has granted the underwriters an option to purchase up to 3.9 million additional ordinary shares at the public offering price less the underwriting discount and commissions. The total gross proceeds of the offering, before underwriters' discounts and estimated offering expenses, will be $65.0 million, excluding any exercise of the underwriters' option to purchase additional ordinary shares. The offering is expected to close on August 14, 2023, subject to customary closing conditions. Innoviz intends to use the net proceeds that it will receive from the offering for general corporate purposes.